"ABHFL's (Aditya Birla Housing Finance) assets under management amounted to Rs 2450 crore at end-June 2016 (FY15: Rs 1400 crore) with no delinquencies in over 30 days past due buckets as yet. ABHFL plans to grow its loan book to Rs 5,040 crore by FYE17 and break even at the profit after tax level. Currently, the mix is 60% in housing loans and 40% towards loan against property and commercial real estate," the ratings agency said in a statement.

Within the housing portfolio, 57% of the book consists of self- employed, non-professional customers. ABHFL continues to draw strong operational support from Aditya Birla Finance and plans to establish its presence in 50 cities in the next two years as against 28 cities as at end-March 2016, the release added.

According to India Ratings, Aditya Birla Housing Finance ratings are linked to the credit profile of Aditya Birla Nuvo and Any deterioration in the parent's credit profile, which impacts its ability to support the housing finance company, will lead to a rating downgrade.